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Court Of Chancery Explains How To Interpret Indenture

Concord Real Estate CDO 2006-1 Ltd  v. Bank of America N.A., C.A. 5219-VCL (May 14, 2010)

This is an intesting case even though it deals with how to interpret a complicated indenture.  As the Court explains, it will look to the commentary to the Model Debenture Indenture for guidance.  The reason is that there is a need for uniform interpretation of such documents.  It does not follow, necessarily, that the Court will accept "expert" testimony on what other contracts are supposed to mean.

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